Generative AI Revolution in Consumer Tax Industry at Intuit Inc.’s BofA Securities Conference – Exclusive Insights from Head of Consumer Group

San Francisco, California – Intuit Inc. recently participated in the BofA Securities 2024 Global Technology Conference on June 4, 2024. The conference featured Mark Notarainni, Head of the Consumer Group at Intuit, and was welcomed by Brad Sills from Bank of America. Notarainni shared insights into his 16-year journey at Intuit, where he started in TurboTax and progressed to leading the TurboTax and Consumer Group.

Notarainni emphasized the unique culture at Intuit, highlighting the company’s values and mission of powering prosperity for consumers and small businesses. He discussed the evolution of TurboTax, particularly the launch of TurboTax Live, which transformed the assisted tax preparation market. By leveraging generative AI and video collaboration, TurboTax Live enhanced the customer experience and provided expert assistance to users.

The conversation extended to Intuit’s recent performance in the tax quarter, with notable customer and revenue growth in the consumer group. Notarainni also shared insights into the company’s focus on AI technology and its role in improving the consumer tax experience. Additionally, he discussed Intuit’s entry into the business tax segment, targeting small businesses with full-service and do-it-with-me offerings.

Looking ahead, Notarainni outlined the key growth drivers for TurboTax, including demand-gen initiatives for assisted tax services and leveraging the consumer ecosystem with Credit Karma. The discussion also touched on learnings from this year’s go-to-market strategy, emphasizing the importance of localization, pricing strategies, and facilitating fast access to refunds for customers.

As the conversation concluded, the focus shifted to the future plans for Intuit, highlighting the company’s goal to drive scale, conversion, and innovation in the consumer tax and business tax segments. Notarainni expressed optimism about Intuit’s growth potential and the impact of AI technology on enhancing the overall customer experience.

Overall, the conversation provided valuable insights into Intuit’s strategic initiatives, commitment to innovation, and efforts to empower consumers and small businesses through cutting-edge technology and personalized services.